TSX Surges on Mining Gains, Oil Prices Weaken

The S&P/TSX Composite Index closed at 35,874.26 on Thursday, up 382.99 points or 1.08% from the previous day. This marks the index's largest one-day gain in two weeks, driven by miners and utilities.

Miners led the charge, with Americas Gold and Silver closing at C$7.09, a 10.61% increase, and Discovery Mining gaining 9.95% to C$12.27. These were the two strongest S&P/TSX Composite performers of the day.

The materials sector saw a 3.5% rise during Thursday trading, with precious-metal shares recovering from the previous session's selloff. Utilities also contributed to the rally, with Capital Power rising 3.59% to C$61.70 and TransAlta gaining 2.69% to C$17.18.

However, oil was a counterweight, trading near US$101.13 after the Toronto close, below its previous settlement. The Canadian dollar remained almost unchanged at US$0.7148.